My perception about all of these companies (and this might not be correct) is that all they do is schlep on down to your hearing with some comps and skim a little off the appraised value.  

I believe that this may be because of less sophisticated homeowners who the HOA, their attorney's, and management take advantage of.An excessively high reserve is ripe for abuse.

I know appraising is an art and science and everyones perception is a little different.  

I do not think any sophisticated seller would agree to the term.  

You can find ways to make it work, but it's pretty sophisticated/complicated for someone who wants a passive investment.  

If it crosses the MLS I get a piece, regardless of how quickly it moved.Here's the problem with wholesaling:  perception.  

The clients I have from California that sold their property a multifamily for a 5 cap and are doing a 1031 are very excited about such a deal.It's all perception of the investor and where they are coming from.     

When it comes to selecting a market, we often got influenced by stories, perception, belief, attitude  and emotions.

The reason being that the clients are generally more sophisticated and I get a certain satisfaction helping businesses expand, create jobs, etc.

The more sophisticated way to calculate CapEx is to amortize the costs of those big ticket items over time.